GreatSoft today announced that it has acquired Axia, a cloud-based payroll business, and PaperFreeWeb, a South African cloud-based document management and scanning solution company, for an undisclosed amount.

Effective 1st December 2015, GreatSoft, a leading African cloud-based solutions provider to the Accounting profession, bought 75% of Axia from Prosol Group and 75% of PaperFreeWeb from First Coast Technologies.

These acquisitions solidifies GreatSoft's position as a Africa's leader in providing fully integrated cloud-based practice management software solutions for accounting and auditing practices.

"These acquisitions are an ideal addition to GreatSoft and represent a natural progression in our ongoing global strategy to develop and grow customer relationships by providing comprehensive cloud-based practice management solutions," said Bruce Morgan, CEO of GreatSoft.

"We value Axia's world class, cloud-based employee management system and through this deal will use the combined strengths, experience and expertise of both these firms to position GreatSoft Payroll software solution to the world stage,"

"The acquisition of Axia will also enable our clients, which are global leading accounting firms such as Nolands Africa and Grant Thorton to diversify their sources of revenue by providing world-class cloud-based payroll services," explains Morgan.

The acquisition of PaperFreeWeb will also enable GreatSoft to swiftly move its clients to a paperless society, where electronic documents are stored and retrieved from the cloud.

"The deal with PaperFreeWeb will provide our clients with encryption algorithms on documents inside their repository and provide users with a firewall to protect movement of data, and this is already setting us apart from bricks and mortar companies that provide storage of documents in store rooms that are at risk of being destroyed by elements such as fire," said Morgan.

With the acquisition of Axia, its Managing Director, Dereck Gibbs, remains a 25% shareholder in the cloud-based payroll firm.

"This acquisition enhances our profile and reputation. And, as part of a much larger cloud-based technology Accounting Practice Management company, we are able to offer greater value to our customers and new ones through growing GreatSoft Payroll capabilities and their shared growth strategy," said Gibbs.

Furthermore, Grant Stott Managing Director of PaperFreeWeb, will continue to hold 25% of the cloud-based document management firm..

"We expect GreatSoft CRM's increased competitiveness following the acquisition of PaperFreeWeb Documentation business to be significantly enhancing to our shareholders," said Stott.